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>> The coordinated release between the U.S., India, China, Japan, Republic of Korea and the United Kingdom is the first such move of its kind. And yet OPEC is
by phkahler 5y ago
>> The coordinated release between the U.S., India, China, Japan, Republic of Korea and the United Kingdom is the first such move of its kind.
And yet OPEC is a cartel and would be illegal in the US ;-) This move would probably get brought before the WTO but all the countries involved are big players there... It the world economy on the brink?
- jdofaz 5y agoI wouldn't be so sure it would be illegal: >The production controls of the IOGCC and the Texas Railroad Commission have been cited as precursors to the establishment of OPEC's caps on member state oil production. https://en.wikipedia.org/wiki/Interstate_Oil_and_Gas_Compact_Commission https://en.wikipedia.org/wiki/Interstate_Oil_and_Gas_Compact...
- phkahler 5y agoInteresting, I hadn't heard about that. The difference seems to be weather it's a bunch of companies or a bunch of governments (even state ones).